The retirement advice market must shift its focus from the ‘typical’ retiree it has served in the past as clients experiences become more complex and fragmented, according to analysis from Canada Life.
The provider said while the number of over 60s is set to grow hugely in the coming years - mapping out a clear opportunity for retirement advisers - their financial make-up and needs are vastly different from the typical retiree advisers deal with at present. The number of over 60s is expected to grow by a third to 20.9m people by 2035, the research said. It said two distinct retirement "journeys" will emerge over the next 15 years - people with complex families and therefore complex finances and clients who become financially "successful" in later life. Canada Life said far more r...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
